Big remittance cheer for NRIs! US Senate draft of Donald Trump’s ‘One Big Beautiful Bill’ reduces remittance tax to 1% from 3.5%; details here – Times of India
United States contributed approximately $32 billion in remittances to India in 2023-24. (AI image) US remittance tax relief on the cards! Non-Resident Indians or NRIs have reason to breathe a sigh of relief as the final draft of the ‘One Big Beautiful Bill Act’ proposes just 1% tax on remittances, as against 3.5% earlier. Originally,…